India Economic Profile

Key Facts

GDP:	$1.8 trillion
GDP growth rate:	6.5 percent (FY 2011-12)
Exchange rate:	$1.676 trillion (2011 est.)
Inflation rate:	8.5% (2012 est.)
Budget: revenues:	$196.4 billion; expenditures: $308.8 billion (2011 est.)
Budget Deficit:	5.9 percent of GDP
Unemployment:	9.8% (2011 est.)
Foreign Direct Investment:	$46.8 billion (FY 2011-12)
Fiscal year:	April 1 to March 31

Sources: International Monetary Fund, The World Bank, Reserve Bank of India, CIA World Fact Book

Market Data

Central Bank:	Reserve Bank of India
S	VIP:	BBB- (triple-B minus). Outlook: negative.
Moody's:	Baa3. Outlook: stable
Fitch:	BBB- (triple-B minus). Outlook: negative.
Foreign Reserves:	$294 billion as of Sept. 21, 2012

Sources: Standard & Poor’s Corp., Moody’s, Fitch Ratings, Reserve Bank of India 

Importing & Exporting

Top Import Markets:	China 12.1%, UAE 8.3%, Saudi Arabia 5.8%, US 5.1%, Switzerland 4.7% (2011)
Top Export Markets:	UAE 13%, US 11.4%, China 6.3%, Singapore 5.3% (2011)
Top Imports:	crude oil, precious stones, machinery, fertilizer, iron and steel, chemicals
Top Exports:	petroleum products, precious stones, machinery, iron and steel, chemicals, vehicles, apparel
Balance of Trade:	-$57.5 billion (2012 est.) (negative $57.5 billion)

Source: CIA Fact book, International Monetary Fund

Government and Legal

Form of Government:	Federal Republic
Legal System:	common law system based on the English model; separate personal law codes apply to Muslims, Christians, and Hindus; judicial review of legislative acts

Sources: CIA Factbook